Golden Share Mining Corporation has provided an update on its Shebandowan Gold Project ("SGP") located in Northwestern Ontario, Canada.
The diamond drilling program has started and the first diamond drill hole targeted the newly discovered extension of the JF West Zone exposed in trench GSH-11-14 which returned 0.90 g/t over 28 m.
The first hole collared in mineralization and a 32 m mineralized zone has been intercepted from the top of the hole to a down hole depth of 42 m. The mineralization consists in very strongly sheared volcanics displaying strong hematite and carbonate alteration intruded by equally altered felsic intrusive dykes or sills. Abundant quartz-carbonate veinlets are observed parallel to and cross cutting schistosity. Pyrite percentages of up to 5% where noted with locally semi-massive veinlets of pyrite-chalcopyrite. Magnetite was also observed.
The core was logged and samples are currently in the laboratory for assaying.
President and Chief Executive Officer Philippe Giaro commented:
"We are very pleased with this first drill hole which entered directly into the mineralization. The mineralized zone is consistent with its geological surface expression. Its entire width will remain unknown until we step back with the drill. We're off to a good start and we can now clearly see the surface work of the summer paying off as we lost absolutely no time in drilling directly into the mineralization. The drill program will test the extensions of the current mineralized zones with a view to increase our resource base. Additionally, some blue sky targets and recent surface discoveries of this summer will also be target by diamond drilling. We will provide additional details on the program as we progress".